Tax Amnesty Alert

Written on July 01, 2009 at 10:49 AM

Tax amnesty is a limited-time opportunity for a specified group of taxpayers to pay a defined amount, in exchange for forgiveness of a tax liability (including interest and penalties) relating to a previous tax period or periods and without fear of criminal prosecution. In some cases, legislation extending amnesty also imposes harsher penalties on those who are eligible for amnesty but do not take it. State tax amnesty programs have been around for many years, but more states have used them recently due to shrinking state tax collections.

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Categories: Arizona, New Jersey, Alabama, Paradigm Info, Massachusetts, Virginia, Louisiana, Connecticut




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